3 Big Stock Charts for Thursday: Nordstrom, Cadence Design Systems and Under Armour
The S&P 500’s modest 0.28% slide wasn’t terrifying, but it did represent another failed effort to crawl back above its key 50-day moving average line. Source: Allan Ajifo via Wikimedia (Modified). Rather, it’s the stock charts of Cadence Design Systems (NASDAQ:CDNS), Nordstrom (NYSE:JWN) and Under Armour (NYSE:UAA) that are worth the closer looks. That line is plotted in blue on both stock charts. Although it hasn’t been able to break above $24.60 yet, UAA has left behind a trail of higher lows. Monday’s tumble from Cadence Design Systems shares could have been chalked up as an effort to close the bullish gap left behind in April.